American Manganese Inc. announced that it has signed a Memorandum of Understanding (MOU) with Zenith Chemical Corporation (Zenith) to develop a strategic expansion plan into Asia's lithium-ion battery recycling market. Zenith is an existing producer of high purity nickel sulphate for the lithium-ion battery supply chain and aims to expand its business into battery recycling and high-value cathode precursor materials. Zenith's existing nickel processing plant in Taiwan can produce up to 45,000 tons/year of nickel sulphate. Under the agreed-upon MOU, American Manganese plans to produce high-nickel cathode precursors, such as
NMC811 and NMC9x, at the existing pilot and demonstration plant scale. Zenith would then validate the material
specifications and convert the precursor material into cathode active material to test its properties in lithium-ion
batteries. American Manganese and Zenith Chemical will work together to achieve the timeline and milestones
that would mutually benefit AMY's patented technology and Zenith's robust supply network.